NEWS

HMRC’s latest Stakeholder Digest (11 May 2023) includes the following highlights:SMS text service trial to be expanded: from 4 May 2023 HMRC is extending its text message service to various routine queries. The SMS service is designed to direct...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.  

HMRC does not yet have a full understanding of how the pandemic and its response to it have affected levels of non-compliance, according to a new report, Managing tax compliance following the pandemic, published by the Public Accounts Committee...

HMRC has expressed its intention to change the way it charges late payment interest from immediate effect on certain UK-source interest or royalties payments to a person taxable in an EU member state.Where a company pays yearly interest without...

HMRC has paused its making tax digital for income tax self-assessment (MTD for ITSA) pilot, according to a freedom of information request filed by Saffery Champness. The response revealed that only 115 taxpayers were active in the voluntary trial at...

Tax Policy Associates (TPA) has recently highlighted a ‘school fees planning’ scheme, promoted by Signature Tax – a boutique tax advisory firm and part of the AMS Accountants Group, which counts among its clients the Scottish National Party. The...

Following up on the recent extension of the VAT health and welfare exemption, HMRC has published a new brief to explain the background to the changes. Revenue and Customs Brief 5/23: change to the VAT treatment of medical services carried out by...

Following the decision at Spring Budget 2023 to render void any assignment of a taxpayer’s right to an income tax repayment, HMRC has advised repayment agents to register for an agent services account. Various HMRC guidance notes for tax agents have...

HMRC has published its updated list of yearly average and spot foreign exchange rates for the year to 31 March 2023. The exchange rates are to be used for converting overseas currency to sterling for customs and VAT purposes....

The Pensions Dashboards (Prohibition of Indemnification) Act 2023 received Royal Assent on 2 May 2023, and creates a specific criminal offence for pension scheme trustees or managers to reimburse themselves using the assets of the pension scheme in...